Meiji Yasuda Life Insurance Co Sells 4,960 Shares of AppLovin Co. (NASDAQ:APP)

Meiji Yasuda Life Insurance Co lowered its position in shares of AppLovin Co. (NASDAQ:APP - Free Report) by 65.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,562 shares of the company's stock after selling 4,960 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in AppLovin were worth $830,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in APP. Oxinas Partners Wealth Management LLC acquired a new position in AppLovin during the fourth quarter worth $1,081,000. Franchise Capital Ltd bought a new stake in shares of AppLovin in the 4th quarter valued at about $2,811,000. Barclays PLC lifted its stake in AppLovin by 92.5% in the 3rd quarter. Barclays PLC now owns 318,992 shares of the company's stock valued at $41,643,000 after purchasing an additional 153,248 shares during the last quarter. Tcfg Wealth Management LLC bought a new position in AppLovin during the fourth quarter worth about $369,000. Finally, Caprock Group LLC increased its position in AppLovin by 42.2% during the fourth quarter. Caprock Group LLC now owns 42,146 shares of the company's stock worth $13,648,000 after buying an additional 12,500 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APP shares. Morgan Stanley raised AppLovin from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $470.00 to $350.00 in a report on Thursday, April 10th. FBN Securities assumed coverage on shares of AppLovin in a research report on Friday, March 28th. They issued an "outperform" rating and a $385.00 price objective on the stock. Benchmark lifted their target price on shares of AppLovin from $375.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on shares of AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group upped their target price on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $415.15.

AppLovin Price Performance

Shares of NASDAQ APP traded up $28.09 during midday trading on Friday, reaching $307.58. 6,984,084 shares of the company were exchanged, compared to its average volume of 5,955,922. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The stock has a market cap of $104.56 billion, a P/E ratio of 67.75, a PEG ratio of 3.02 and a beta of 2.39. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock's 50-day moving average price is $276.82 and its 200-day moving average price is $307.08.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts anticipate that AppLovin Co. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now owns 2,914,492 shares in the company, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herald Y. Chen sold 200,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the sale, the director now owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. This trade represents a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.